MIRA INFORM REPORT

Report No. :	354138
Report Date :	11.12.2015

IDENTIFICATION DETAILS

Name :	GSM MEGA INFRASTRUCTURES PRIVATE LIMITED
Registered Office :	Plot No.219, H. No. 8-2-293/82/A/219, Road No.17 Phase-I, Jubilee Hills, Hyderabad – 500033, Telangana
Tel. No.:	91-40-23552282
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	30.08.2011
Com. Reg. No.:	076237
Capital Investment / Paid-up Capital :	Rs. 30.000 Million
CIN No.: [Company Identification No.]	U45209TG2011PTC076237
IEC No.:	Not Divulged
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged into Construction Activity.
No. of Employees :	20 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (11)

RATING		STATUS	PROPOSED CREDIT LINE
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security

Status :	Yet to commence its operation
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject was incorporated in the year 2011 and it is yet to commence its business operations. During the year the company has not commenced its commercial operations hence expenses are shown under expenditure during the year under review. The rating is constrained on company moderate financial profile and huge borrowing reported by the company leading to threaten the liquidity position of the company. As per the status in Registrar of Companies is active. Payment terms are unknown. In view of aforesaid, the company can be considered for business dealings with some caution.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

NOT AVAILABLE

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2015.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Shiva Kumar
Designation :	Finance Head
Contact No.:	91-9618215244
Date :	08.12.2015

LOCATIONS

Registered Office :	Plot No.219, H. No. 8-2-293/82/A/219, Road No.17 Phase-I, Jubilee Hills, Hyderabad – 500033, Telangana, India
Tel. No.:	91-40-23552282
Mobile No.:	91-9700786706 (Mr. Minaddin) 91-9618215244 (Mr. Shiva Kumar)
Fax No.:	91-40-23552282
E-Mail :	mvsgr-28011964@yahoo.in gsmmipl@gmail.com
Website :	http://www.gsmmall.co.in
Area :	2200 Sq. ft.
Location :	Rented
Locality :	Commercial
Site Address :	Survey No. 99 and 100, Madinaguda, Miyapur, Hyderabad – 500049, Telangana, India

DIRECTORS

AS ON 30.09.2014

Name :

Muthyala Murali Mohan Reddy

Designation :

Director

Address :

8-2-685/56, Road No. 12, Banjara Hills, Hyderabad – 500034, Andhra Pradesh, India

Date of Birth/Age :

12.08.1956

Date of Appointment :

30.08.2011

DIN No.:

00311899

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U65910TG1993PLC016482	PRIVILEGE BUILDERS LIMITED	Managing director	26-10-1993	26-10-1993	Strike off	NO
2	U45209TG2011PTC076237	GSM MEGA INFRASTRUCTURES PRIVATE LIMITED	Director	30-08-2011	30-08-2011	Active	NO

Name :

Venkatasai Seshagiri Rao Mandavilli

Designation :

Director

Address :

Flat No S-2, Plot No.564-A-47, Road No.92, Jubilee Hills, Banjara Hills Post, Hyderabad - 500034, Andhra Pradesh, India

Date of Birth/Age :

28.08.1963

Date of Appointment :

30.08.2011

DIN No.:

01329182

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U45200TG2007PTC054214	ABHIJYOTI ESTATE & INFRA PRIVATE LIMITED	Director	30-05-2007	30-05-2007	Strike off	NO
2	U45209TG2011PTC076237	GSM MEGA INFRASTRUCTURES PRIVATE LIMITED	Director	30-08-2011	30-08-2011	Active	NO

Name :

Gandluru Siva Shankar Reddy

Designation :

Director

Address :

Plot No.81, Road No.9, Jubilee Hills, Hyderabad - 500033, Andhra Pradesh, India

Date of Birth/Age :

10.01.1979

Date of Appointment :

30.08.2011

DIN No.:

01467359

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U45201TG1997PLC028680	GVPR ENGINEERS LIMITED	Whole-time director	01-10-2010	02-07-2001	02-02-2012	Active	NO
2	U70102TG2002PTC038907	G.S.P.INFRATECH DEVELOPMENT PRIVATE LIMITED	Director	07-05-2002	07-05-2002	-	Amalgamated	NO
3	U63040TG2003PTC041085	GSP TOURS AND TRAVELS Private LIMITED	Director	02-06-2003	02-06-2003	-	Strike off	NO
4	U66010TG2003PTC041084	NEW ERA INSURANCE BROKING SERVICES Private Limited	Director	01-12-2003	01-12-2003	-	Active	NO
5	U14102TG1986PTC006850	Shiva Shankar Minerals Private Limited	Director	08-12-2003	08-12-2003	-	Active	NO
6	U72200TG2000PTC034565	SHIVA SHANKAR INFOTECH Private Limited	Director	29-09-2006	29-09-2006	-	Active	NO
7	U27109TG2007PTC053930	SHAASTA FERRO-STEELS INDIA PRIVATE LIMITED	Director	29-06-2007	29-06-2007	-	Strike off	NO
8	U55101TG2007PTC054285	SHAASTA LUXURY HOTELS PRIVATE LIMITED	Director	30-06-2007	30-06-2007	-	Active	NO
9	U40102TG2007PTC053982	VEERA ENERGY PRIVATE LIMITED	Director	04-07-2007	04-07-2007	-	Strike off	NO
10	U74999TG2007PTC054152	SHAASTA INVESTMENTS & INITIATIVES PRIVATE LIMITED	Director	11-07-2007	11-07-2007	10-11-2015	Active	NO
11	U45400TG2007PTC054664	SHAASTA INFRATECH ENTERPRISES PRIVATE LIMITED	Director	28-09-2012	11-07-2007	-	Active	NO
12	U27109TG2007PTC055743	SHAASTA ACIER COMPANY PRIVATE LIMITED	Director	01-10-2007	01-10-2007	-	Strike off	NO
13	U85110TG2008PTC057629	SHAASTA HOSPITALS AND RESEARCH ESTABLISHMENT PRIVATE LIMITED	Director	15-02-2008	15-02-2008	-	Strike off	NO
14	U26941TG2008PTC057653	SHAASTA CEMENT CORPORATION INDIA PRIVATE LIMITED	Director	01-10-2015	19-02-2008	-	Active	NO
15	U63011TG2008PTC057752	SHAASTA LOGISTIC SOLUTIONS & SERVICES INDIA PRIVATE LIMITED	Director	22-02-2008	22-02-2008	-	Active	NO
16	U74999TG2008PTC058430	SHAASTA GRP PIPES INDIA PRIVATE LIMITED	Director	29-03-2008	29-03-2008	-	Strike off	NO
17	U01403TG2008PTC059384	SHAASTA BIO-ORGANIC FARMS PRIVATE LIMITED	Director	28-05-2008	28-05-2008	-	Strike off	NO
18	U74140KA2010PTC053064	HONNAVAR PORT PRIVATE LIMITED	Managing director	01-10-2013	30-03-2010	-	Active	NO
19	U45209TG2011PTC076237	GSM MEGA INFRASTRUCTURES PRIVATE LIMITED	Director	30-08-2011	30-08-2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Shiva Kumar
Designation :	Finance Head

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Venkatasai Seshagiri Rao Mandavilli	3333
Muthyala Murali Mohan Reddy	3333
Gandluru Siva Shankar Reddy	3334
Total	10000

AS ON 30.09.2014

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged into Construction Activity.
Brand Names :	--
Agencies Held :	--
Exports :	--
Imports :	--
Terms :
Selling :	Cash, Advance Payment and Credit
Purchasing :	Cash, Advance Payment and Credit

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Customers :

End Users and Others [Trader]

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

No. of Employees :

20 (Approximately)

Bankers :

Bank Name:	Vijaya Bank
Branch:	D.No.60/A and 61/A, Housing Board Colony, Near DLF, Gachibowli Branch, Hyderabad - 500032, Telangana, India
Person Name (with Designation):	Not Divulged
Contact Number:	Not Divulged
Name of Account Holder:	Not Divulged
Account Number:	Not Divulged
Account Since (Date/ Year of A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks:	Not Divulged

· Dena Bank

· Bank of India

· Andhra Bank

Facilities :

--

Banking Relations :	--
Auditors :
Name :	Balaji Nagaraj and Company Chartered Accountants
Address :	Flat No 313, B Block, Sri Datta Sai Commercial Complex, RTC X Roads, Hyderabad – 500020, Andhra Pradesh, India
Income-tax PAN of auditor or auditor's firm :	AEOPK0914R
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
3,000,000	Equity Shares	Rs. 10/- each	Rs. 30.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3,000,000	Equity Shares	Rs. 10/- each	Rs. 30.000 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	30.000	0.100	0.100
(b) Reserves & Surplus	0.186	0.000	0.000
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	30.186	0.100	0.100
(3) Non-Current Liabilities
(a) Long-term borrowings	56.526	36.126	14.026
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	11.488	19.146	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	68.014	55.272	14.026
(4) Current Liabilities
(a) Short term borrowings	35.700	40.000	0.000
(b) Trade payables	31.937	0.000	0.000
(c) Other current liabilities	1.147	0.630	0.010
(d) Short-term provisions	0.083	0.000	0.000
Total Current Liabilities (4)	68.867	40.630	0.010
TOTAL	167.067	96.002	14.136
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000	0.000	0.000
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	142.962	63.727	2.414
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	20.000	20.000	10.000
(e) Other Non-current assets	0.198	0.016	0.016
Total Non-Current Assets	163.160	83.743	12.430
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	0.000	0.000	0.000
(d) Cash and cash equivalents	0.765	9.386	1.309
(e) Short-term loans and advances	3.142	2.873	0.397
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	3.907	12.259	1.706
TOTAL	167.067	96.002	14.136

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2014
PROFIT AFTER TAX	0.186
Earnings Per Share (Rs.)	0.06

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net Cash flow from (used in) Operations	NA	NA	NA

KEY RATIOS

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
Debt Equity Ratio (Total Liability/Networth)	3.06	761.26	140.26
Current Ratio (Current Asset/Current Liability)	0.06	0.30	170.60

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particulars	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	0.100	0.100	30.000
Reserves & Surplus	0.000	0.000	0.186
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	0.100	0.100	30.186
Long-term borrowings	14.026	36.126	56.526
Short term borrowings	0.000	40.000	35.700
Total borrowings	14.026	76.126	92.226
Debt/Equity ratio	140.260	761.260	3.055

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	Yes
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	Yes
17	Details of sister concerns	No
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	No
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last one year	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10564418	26/03/2015 *	600,000,000.00	VIJAYA BANK	D.NO.60/A & 61/A, HOUSING BOARD COLONY, NEAR DLF,  GACHIBOWLI BRANCH, HYDERABAD, TELANGANA - 500032, INDIA	C51568541

* Date of charge modification

UNSECURED LOANS

PARTICULARS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
From the Directors and Relatives
M.V. Seshagiri Rao	3.250	2.200
M. Muralimohan Reddy	15.149	6.549
G. Sivashankar Reddy	13.601	7.167
G. Veera Sekhar Reddy	11.521	5.821
M. Deepika Reddy	2.633	3.900
M.V.L.S. Jyothi	10.372	10.489
SHORT TERM BORROWINGS
GSP Infratech Development Limited	12.500	12.500
GVPR Engineers Limited	23.200	27.500
Total	92.226	76.126

BUSINESS OPERATIONS

The Company was incorporated on 30^th August 2011. The company is yet to commence its commercial production hence expenses are shown under expenditure during the construction period. The company is establishing itself and will certainly post good results in the coming year.

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 66.75
UK Pound	1	Rs. 100.29
Euro	1	Rs. 72.89

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	KAS
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	--
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	--
--PROFITABILIRY	1~10	--
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	2
--RESERVES	1~10	2
--CREDIT LINES	1~10	1
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		11

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.